Sinopec, others join B.C. LNG hunt

Companies from China, India and Japan join global investors checking out gas export potential of North Coast

Premier Christy Clark and B.C.'s new trade commissioner Ben Stewart (left) tour LNG import facility in China.

Chinese petrochemical giant Sinopec, another Japanese player and an unidentified Indian company are joining the international move to explore liquefied natural gas exports from northern B.C., says Rich Coleman, B.C.’s minister for natural gas development.

Sinopec, ranked the fifth largest global company in 2011, is looking for LNG imports equivalent to the output of the world’s second largest LNG terminal, Coleman told reporters as Premier Christy Clark began a trade trip to Asia.

Another new player is Idemitsu Kosan Co., the second largest petroleum refiner in Japan, which is applying for a federal export permit in a partnership with Calgary-based AltaGas called Triton LNG.

China National Overseas Oil Company and its new subsidiary Nexen has put up a non-refundable deposit of $12 million toward purchase of provincial land on the north side of Grassy Point near Prince Rupert, Coleman said. Another unidentified company has shown interest in the south side of Grassy Point.

The new proposals add to a lineup of international investment proposed by Petronas, Chevron, Shell, British Gas and others, which are expected to make final investment decisions in 2014.

Coleman said the tax rate for LNG producers is to be presented to companies by the end of November, but it may not be public until the B.C. government table its budget in February.

 

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Editorial: Mask wearing: innocuous advice has turned into polarizing war

Somehow, this innocuous recommendation has become a polarizing war for some.

UPDATED: Young deckhands backed out of fatal Arctic Fox II trip just before fishboat departed

Inexperienced twin brothers had ‘gut feeling’ and bailed before going to open ocean

Cowichan’s Dillabaugh checks in from the NHL bubble in Toronto

Flyers’ Duncan-born goalie coach weighs in on hockey restart

37-year-old man missing from Cobble Hill area

He is described as a First Nations man, 5 foot 8 in height

Five new handyDART buses serving Cowichan

Buses to replace older vehicles being removed from the fleet

B.C. records new COVID-19 death, 85 more cases; Horgan calls on celebrity help

This brings the total number of active confirmed cases to 531 across the province

Horvat scores 2 as Vancouver Canucks beat Blues 5-2 in NHL playoff opener

Game 2 in best-of-seven series goes Friday night

Old-growth forest defenders in Campbell River call for B.C. forest minister’s resignation

Protestors outside North Island MLA’s office ask government to stop old-growth logging

Teachers to get 2 extra days to prepare for students’ return, now set for Sept. 10

Students will first start with orientation and learn rules of COVID-19 classroom policies

High-volume littering at Cape Scott draws ire from hiking groups

Popular Vancouver Island hiking spot not closing, but frustration about crowding grows

SFU to drop ‘Clan’ varsity team name

The ‘Clan’ name is shortened from ‘Clansmen,’ and was introduced roughly 55 years ago

New Tory leader must build a strong team in Commons and for the campaign: Scheer

Scheer marked his final day in the House of Commons today as leader of the Opposition

B.C. to hire 500 more COVID-19 contact tracers ahead of fall

Contract tracers add an ‘extra layer’ in the fight against the novel coronavirus

More than $800,000 in suspected cocaine seized from ship near Victoria

RCMP Dive Team suspects more narcotics had been stored below ship’s waterline

Most Read